China's Largest Oil Refiner Eyes Sale Worth Around $20 Billion

HONG KONG—China Petroleum & Chemical Corp., China's largest oil refiner, has invited banks to pitch for handling the sale of part of its retail assets of thousands of gas stations and convenience stores, people familiar with the matter said Friday.

Beijing-based Sinopec is looking to complete a private sale of part of its retail assets or list a stake in the division, people familiar with the matter said. Banks have been asked to...